Update 7/14/11: From a commenter:
Owner was arrested for selling alcohol with an expired license. His current application was rejected by the state liquor authority so there is no new license coming. Expired liense was only valid for the 68 side so the bar on the venue side was illegal. The entire inventory of the bar was destroyed at command of the SLA and local precinct. He has so flagrantly violated the laws for so long that he is red flagged by all city agencies. He was apparently so high when arrested that the cops were making fun of his incoherent rambling.
After checking the SLA website, it appears this is correct – the liquor license expired on 6/30 and was renewed on 7/11 but the license is for 68 Greenpoint Avenue – Coco 68 is a restaurant – and NOT 66 – which is where the bar is located…
66 Greenpoint Avenue